Buyer Cash-to-Close
Estimates how much cash a buyer needs at closing: down payment, fees, prepaids and escrow, less credits. Also shows the monthly payment.
Open the Buyer Cash-to-CloseStep by step
- 1
Enter the purchase
Set the purchase price, down payment percent, interest rate and closing date.
- 2
Enter fees and credits
Type lender fees, title and escrow, recording, annual property tax and insurance. Add earnest money paid and any seller credit.
- 3
Fine-tune under More details
Pick the loan type (Conventional, FHA, VA or Cash), term, PMI rate, lender credit and HOA. Set appraisal, inspection, survey and attorney fees, and when the next tax bill is due.
- 4
Download the PDF
If you like, pick a client and property in the Client & property menu above the button so the PDF says who it's for. It doesn't change your numbers. Download the Buyer Cash-to-Close Estimate PDF with your name, photo and phone on it; it saves to the Results tab.
- 5
Send it to clients
The Share tab has your branded link for this calculator, with buttons to copy, text or email it. Clients can run it there on their own.
Reading the results
The top number is the estimated cash to close. Under it are the closing costs and prepaids and the credits applied, then each line: down payment, fees, prepaid interest, a year of insurance and the escrow reserves.
For loans, the box below shows the estimated monthly payment and what's in it.
Assumptions
Prepaid interest runs from closing through the end of the month. Tax escrow covers the next bill plus a two-month cushion; insurance escrow is two months.
FHA adds 1.75% upfront mortgage insurance to the loan and 0.55% a year to the payment. VA adds a 2.15% funding fee to the loan (first use). This is a planning estimate, not a Loan Estimate.
What the PDF has
The purchase and loan, every cost and prepaid with a total, the credits, the cash to close and the monthly payment.
On your branded page
Clients can run this calculator on your branded page, techybroker.com/b/{handle}, under Buying. To download the PDF they give a name and an email or phone. That adds them to your clients, and their runs and downloads show in Activity.
Questions
Why is there an appraisal and inspection fee I didn't type?
They start at $600 and $500 under More details. Change them or set them to 0.
Is this the lender's Loan Estimate?
No. It's for planning. The buyer's lender provides the official figures.
What changes when I pick Cash?
The down payment becomes the full price, and lender fees, prepaid interest and escrow reserves drop out.
Related
Shows the full monthly payment with taxes, insurance, PMI and HOA, plus the loan balance over time. Also handles extra payments and discount points.
Works out the home price a buyer can afford from income, debts, down payment and rate, with the full monthly payment at that price.
Prorates taxes, HOA dues, rent, deposits and other items to the day, settlement-statement style, with who credits whom and a net.